Operating Segments Operating Segments (Tables)

3 Months Ended

9 Months Ended

Sep. 30, 2022

Schedule of Segment Reporting Information, by Segment


	Three Months Ended September 30, 2022								Three Months Ended September 30, 2021
	Towers		Fiber		Other		Consolidated Total		Towers		Fiber		Other		Consolidated Total
Segment site rental revenues	$	1,084	$	484			$	1,568	$	972	$	479			$	1,451
Segment services and other revenues	175		3				178		162		5				167
Segment revenues	1,259		487				1,746		1,134		484				1,618
Segment site rental costs of operations	230		166				396		227		163				390
Segment services and other costs of operations	114		3				117		108		4				112
Segment costs of operations(a)(b)	344		169				513		335		167				502
Segment site rental gross margin	854		318				1,172		745		316				1,061
Segment services and other gross margin	61		—				61		54		1				55
Segment selling, general and administrative expenses(b)	28		47				75		27		44				71
Segment operating profit (loss)	887		271				1,158		772		273				1,045
Other selling, general and administrative expenses(b)					$	81	81						$	69	69
Stock-based compensation expense					38		38						33		33
Depreciation, amortization and accretion					430		430						413		413
Interest expense and amortization of deferred financing costs					177		177						163		163
Other (income) expenses to reconcile to income (loss) before income taxes(c)					10		10						9		9
Income (loss) before income taxes							$	422							$	358
Capital expenditures	$	45	$	277	$	15	$	337	$	46	$	229	$	8	$	283
Total assets (at period end)	$	22,226	$	15,914	$	721	$	38,861	$	22,239	$	15,813	$	952	$	39,004

(a)Exclusive of depreciation, amortization and accretion shown separately.

(b)Segment costs of operations excludes (1) stock-based compensation of $7 million and $6 million for the three months ended September 30, 2022 and 2021, respectively and (2) prepaid lease purchase price adjustments of $4 million for each of the three months ended September 30, 2022 and 2021. Selling, general and administrative expenses exclude stock-based compensation expense of $31 million and $27 million for the three months ended September 30, 2022 and 2021, respectively.

(c)See condensed consolidated statement of operations for further information.


	Nine Months Ended September 30, 2022								Nine Months Ended September 30, 2021
	Towers		Fiber		Other		Consolidated Total		Towers		Fiber		Other		Consolidated Total
Segment site rental revenues	$	3,237	$	1,474			$	4,711	$	2,819	$	1,426			$	4,245
Segment services and other revenues	502		9				511		427		14				441
Segment revenues	3,739		1,483				5,222		3,246		1,440				4,686
Segment site rental costs of operations	689		490				1,179		659		485				1,144
Segment services and other costs of operations	329		7				336		285		10				295
Segment costs of operations(a)(b)	1,018		497				1,515		944		495				1,439
Segment site rental gross margin	2,548		984				3,532		2,160		941				3,101
Segment services and other gross margin	173		2				175		142		4				146
Segment selling, general and administrative expenses(b)	84		140				224		78		133				211
Segment operating profit (loss)	2,637		846				3,483		2,224		812				3,036
Other selling, general and administrative expenses(b)					$	234	234						$	205	205
Stock-based compensation expense					121		121						100		100
Depreciation, amortization and accretion					1,276		1,276						1,229		1,229
Interest expense and amortization of deferred financing costs					506		506						493		493
Other (income) expenses to reconcile to income (loss) before income taxes(c)					71		71						184		184
Income (loss) before income taxes							$	1,275							$	825
Capital expenditures	$	137	$	746	$	38	$	921	$	160	$	701	$	31	$	892

(a)Exclusive of depreciation, amortization and accretion shown separately.

(b)Segment costs of operations excludes (1) stock-based compensation expense of $21 million and $16 million for the nine months ended September 30, 2022 and 2021, respectively, and (2) prepaid lease purchase price adjustments of $12 million and $14 million for the nine months ended September 30, 2022 and 2021, respectively. Selling, general and administrative expenses exclude stock-based compensation expense of $100 million and $84 million for the nine months ended September 30, 2022 and 2021, respectively.

(c)See condensed consolidated statement of operations for further information.